In a statement given to Billboard, attorney Ron Sweeney wouldn't confirm how much the settlement was worth but did say that Wayne now owns his assets, music and himself. "Per our settlement agreement, the matter has been amicably resolved to the satisfaction of all parties," the lawyer said.

"In terms of the particulars, we’re prohibited legally from saying anything further," he added. "I can say that my client is happy. He is his own man, a man that owns his assets, his music and himself. At some point, Wayne will let his fans know what’s going to happen next."

Although Sweeney didn't reveal the details of the settlement, a previous report from The Blast claims the deal is worth more than $10 million and says Universal Records, not Birdman, will be paying Wayne.

The New Orleans rapper will also now reportedly be able to release his long-awaited Tha Carter V album. The project has been in the works since 2012 and has gone through a number of delays.